LimeFX Forex Broker: What You Need to Know
LimeFX is a fresh and relatively young broker that offers forex, cryptocurrency, and indices trading services. It was founded in London in 2008 by a team of analysts. However, it started as a company that worked in the development of trading bots. Only recently did LimeFX become public as a broker. This review of LimeFX forex broker will highlight professional and customer reviews about trading with it.
When LimeFX began offering brokerage services, it focused on expanding its client base in the European markets. This was right after it went into trading aside from its work on trading bots development. In 2015, LimeFX expanded further into the Russian markets, as well as the Commonwealth of Independent States markets. Overall, it has been offering brokerage services for a little over ten years. While newer brokers have been established in the span of ten years, LimeFX maintained an attractive choice for many traders due to its quality services.
LimeFX forex broker operates as one of the brand names of TLM Limited, an international business company that operates a number of brokerage firms. While the headquarters of LimeFX is in London, it is licensed to operate in Saint Vincent and the Grenadines. It was registered in the jurisdiction in 2017 as part of another expansion venture.
Clients have registered with LimeFX for a variety of reasons. This broker has several choices for platforms, including the classic MT4 and XCritical trading platform, a safe and beneficial bonus and promotions system, and high-class security measures.
LimeFX Review of Services and Features
In this LimeFX review, the most beneficial and outstanding services will be included. These range from platforms, to account types, to bonuses, and to research and educational tools.
LimeFX has four options for a trading platform, including a mobile terminal. Mobile trading has been a demand in recent years due to its portability. Traders can access their accounts and execute positions anytime and anywhere in three ways: online services, special mobile terminals, and connecting to a VPS server. LimeFX offers an XCritical mobile terminal available in iOS and Android. But of course, a web platform for XCritical is also available for LimeFX clients, which is the option they prefer when trading in the comforts of their homes or offices. The new and improved XCritical platform provides access to over 180 trading instruments, history of transactions, and a built-in-chat support. Clients can also develop their own trading portfolios, lock and duplicate positions, use technical advisors, and employ risk management with limit orders.
LimeFX also offers MT4 in both desktop and web. Both versions offer a high level of functionality, which is the trademark of MetaTrader platforms. The MT4 web and desktop both have numerous features, tools, an intuitive and user-friendly interface, technical analysis, and algorithmic trading. Both are recommendable choices for trading in any financial market.
LimeFX has a number of research and educational tools provided for all its traders. It has an Economic Calendar that shows the macroeconomic indicators that influence, whether directly or indirectly, the quotes of different trading instruments. These include currency pairs, stocks and securities, precious metals, cryptocurrencies, stock indices, and raw materials.
There is also a spreads table that explains how spreads change in the course of a trading day. It also differentiates fixed and floating spreads to inform the client about how market situations directly or indirectly affect the spreads of each asset.
The last material in LimeFX’s most notable research and educational tools is the video lessons, which by its name, refers to forex lessons and webinars. It is handy for explaining different strategies and how they can be applied in particular situations. The video lessons are specifically targeted towards beginning traders that are looking for a more active approach to learning strategies. However, clients can only access this feature once they sign up with LimeFX.
LimeFX Customer Reviews
LimeFX has been offering services in the European and Russian markets, despite the still growing client base. Even if this broker has not reached that many customers yet, it has received a number of positive feedback. It is also considering expanding its reach in the near future.
Professional reviewers have given LimeFX positive ratings that reached up to the 100-mark. Scamadviser.com and safe.shop both wrote well-written LimeFX reviews and rated it 100 out of 100. The Trust rating given by these reviewers are reflective of the overall conditions and services of this broker. These factors guarantee customers that they can expect safe and quality services from LimeFX.
Two of the most noteworthy features of LimeFX as pointed out by customer and professional reviews are the legitimate SSL certificate and its reputable activity as a brokerage firm. It has been praised a lot in customer reviews by investors trading in the Russian markets. The other positive features of LimeFX as pointed out by reviews are the convenient deposit and withdrawal processes, as well as the wide range of assets to trade.
LimeFX Scam Allegations
Despite all the positive reviews and ratings that LimeFX has received in its years of service, there are a few negative feedback to it. Some reviews claim that LimeFX scams its clients, although when scrutinized, these reviews relate more to systemic market risks rather than the broker itself. While there are legitimate concerns about some broker’s reliability, some losses experienced by clients are not controlled by the broker. Most losses are the result of market conditions that were not favorable to the trader’s position. For these kinds of losses, traders must be fully aware of the risks the market presents before they begin trading.
There are also a lot of reviews online that are made by non-clients of LimeFX, and are created by competitors to smudge the broker’s name. This is a norm in the brokerage industry since competition is always tight. Fortunately, no reputable reviewer has supported fake reviews about LimeFX. All the scam allegations about this broker are yet to be proven, if they are true at all. But gathering the top reviews about it has reinforced the perception that this broker is reliable to trade with.